By: Ramy Sameeh
Abu Dhabi-Mubasher: Abu Dhabi Islamic Bank’s (ADIB) shareholders agreed on distributing 24.27% cash dividends of the capital or AED 0.2427 per share for the fiscal year 2015.
The ordinary general meeting has approved the board’s report on the bank’s business and its financial position for the fiscal year ended 31 December, 2015.
During FY15, ADIB achieved a growth of 11% in profits which stood at AED 1.943 billion as compared to AED 1.75 billion in the previous year.
The bank will focus on the local market during the coming period, the CEO Tirad Al Mahmoud said, noting that ADIB has no intention to expand abroad in 2016.
ADIB has future plans to expand in Jordan and other Arab countries; however, these expansions will not be this year, the CEO added on the sidelines of the OGM. .
The bank has denied the recent published news which said that ADIB will allow foreigners to own 25% of properties which are used as a guarantee for loans.
